Hourglass Capital LLC Lowers Holdings in Federated Hermes, Inc. (NYSE:FHI)

Hourglass Capital LLC trimmed its holdings in Federated Hermes, Inc. (NYSE:FHI) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,300 shares of the company’s stock after selling 318 shares during the period. Federated Hermes comprises about 2.0% of Hourglass Capital LLC’s investment portfolio, making the stock its 17th biggest position. Hourglass Capital LLC’s holdings in Federated Hermes were worth $7,144,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC lifted its position in shares of Federated Hermes by 607.7% in the first quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock valued at $30,000 after acquiring an additional 711 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock valued at $39,000 after acquiring an additional 349 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Federated Hermes in the second quarter valued at about $47,000. CWM LLC lifted its position in shares of Federated Hermes by 985.7% in the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Federated Hermes by 26.0% in the second quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock valued at $47,000 after acquiring an additional 296 shares in the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Federated Hermes Trading Down 0.7 %

Shares of FHI stock opened at $41.64 on Thursday. Federated Hermes, Inc. has a 1 year low of $31.08 and a 1 year high of $42.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.75 and a quick ratio of 2.03. The stock’s 50 day simple moving average is $37.46 and its two-hundred day simple moving average is $34.68. The company has a market cap of $3.41 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.15.

Federated Hermes (NYSE:FHI) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a return on equity of 29.85% and a net margin of 16.62%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Research analysts predict that Federated Hermes, Inc. will post 3.83 earnings per share for the current year.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.98%. Federated Hermes’s dividend payout ratio is 39.87%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FHI shares. Deutsche Bank Aktiengesellschaft boosted their target price on Federated Hermes from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI boosted their target price on Federated Hermes from $41.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com downgraded Federated Hermes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. TD Cowen upgraded Federated Hermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $46.00 in a research report on Monday, October 28th. Finally, Royal Bank of Canada boosted their target price on Federated Hermes from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Insider Activity

In other news, VP Dolores D. Dudiak sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total transaction of $199,450.00. Following the transaction, the vice president now owns 77,288 shares of the company’s stock, valued at approximately $3,083,018.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Saker Anwar Nusseibeh sold 12,152 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $39.86, for a total value of $484,378.72. Following the transaction, the chief executive officer now owns 179,096 shares of the company’s stock, valued at $7,138,766.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dolores D. Dudiak sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $39.89, for a total value of $199,450.00. Following the completion of the transaction, the vice president now directly owns 77,288 shares in the company, valued at approximately $3,083,018.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Federated Hermes Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.